Calculate the effects of prepaying your mortgage by completing the boxes below. You’ll need to fill in the first 4 lines from your original mortgage agreement in order to start the calculations.
Your Prepayment Analysis
- Calculations can vary by up to 10% on property type, interest rate type, and down payment amount
- Contact your mortgage agent today to get an accurate estimate
Why Would You Want to Prepay Your Mortgage?
By putting additional money – from a pay raise, bonus, or gift – against your mortgage, you will pay down the principal amount faster, save yourself money on interest payments, and ultimately be mortgage-free sooner. Many mortgage lenders allow you to prepay your mortgage without incurring any penalties or additional fees. Check with your lender for the details of your specific agreement.
The calculations used on this page are based on the best available information at the time it was last updated/published. The accuracy of the results depends on the information that you enter. If you have questions about how the prepayment analysis is calculated, or would like a complimentary assessment that takes into account more factors, contact our team to start a conversation today.